File:New McDonald's restaurant in Mount Pleasant, Iowa.jpg|thumb|McDonald's Corporation is one of the most recognizable corporations in the world.|211x211px
A '''corporation''' is a company or group of people authorized to act as a single entity (Legal personality|legally a person
) and recognized as such in law. Early incorporated entities were established by charter (i.e. by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration.
Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered into two kinds: by whether or not they can issue stock, or by whether or not they are for profit.
Where local law distinguishes corporations by ability to issue stock, corporations allowed to do so are referred to as "stock corporations", ownership of the corporation is through stock, and owners of...